Retirement Services

Choose a Retirement Plan to Fit Your Needs

You will likely consider many factors when choosing a retirement plan for your business. When it comes to the plan you will offer and your investment options, NestEggVault has you covered. We offer a range of customizable options for you, your employees, and your business.

SIMPLE Plans

A Savings Incentive Match Plan for Employers (SIMPLE) plan allows businesses with as few as two employees to establish a 401(k) plan or an IRA.

Traditional 401(k)

One of the benefits of a 401(k) plan for employees is that they can save for retirement through pretax and Roth 401(k) contributions. You have the option to match part or all of the employee’s deferrals.

Profit Sharing

Allows your business to divide discretionary contributions among employees. Contributions can be allocated using new comparability or other common methods.

Safe Harbor 401(k)

Automatically satisfies certain nondiscrimination testing, encourages employee participation, maximizes salary deferrals for high-wage employees, and is simple to administer.

Owner-Only 401(k)

Allows one-person businesses with no employees (except for certain family members) to maximize salary deferral contributions without the hassle of compliance testing.

Compare Retirement Plans

Feature Traditional 401(k) and Owner Only 401(k) Safe Harbor Profit Sharing
Can Amend to a Traditional 401(k) N/A Yes Yes
Maximum Employee Deferral $18,000* $18,000* N/A
Roth Contribution Yes, within deferral limit Yes, within deferral limit N/A
Catch-up Contributions (for participants 50 or older) $6,000* $6,000* N/A
Employer Contribution Employer option Matching contribution of 100%, up to 3% of compensation, and 50% of the next 2%,

OR

Non-elective contribution of 3% of compensation to all eligible participants

Lesser of 25%, of employee compensation or $53,000 per individual*
Vesting Options available Immediate (Safe Harbor contributions)

Options available (Other contributions)

Options available
Loans Yes Yes Yes
ADP/ACP Testing Yes No No
Top-Heavy Testing Yes Generally satisfied Yes
Investment Providers Choice of many Choice of many Choice of several
Compatible with Money Purchase and Profit Sharing Plans Yes Yes N/A

*Limit indexed annually by the IRS.

 

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